Comstock Resources (NYSE:CRK) Raised to Neutral at Mizuho

Mizuho upgraded shares of Comstock Resources (NYSE:CRK - Free Report) from an underperform rating to a neutral rating in a report released on Monday morning, Marketbeat.com reports. The firm currently has $18.00 price target on the oil and gas producer's stock, up from their prior price target of $10.00.

CRK has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of Comstock Resources from $10.00 to $11.00 and gave the stock a "market perform" rating in a research note on Friday, October 4th. Truist Financial increased their price target on Comstock Resources from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Bank of America initiated coverage on Comstock Resources in a research note on Monday, October 28th. They issued a "buy" rating and a $14.00 price objective on the stock. Citigroup increased their target price on Comstock Resources from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Siebert Williams Shank cut Comstock Resources from a "hold" rating to a "sell" rating and set a $9.00 price target for the company. in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.78.

Comstock Resources Price Performance

Shares of Comstock Resources stock traded down $0.68 during midday trading on Monday, hitting $16.12. 2,308,114 shares of the company were exchanged, compared to its average volume of 3,389,910. The firm has a 50 day simple moving average of $13.45 and a 200-day simple moving average of $11.59. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $4.71 billion, a P/E ratio of -93.33 and a beta of 0.57. Comstock Resources has a 52 week low of $7.07 and a 52 week high of $17.79.

Comstock Resources (NYSE:CRK - Get Free Report) last issued its earnings results on Wednesday, October 30th. The oil and gas producer reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Comstock Resources had a negative net margin of 4.93% and a negative return on equity of 3.88%. The firm had revenue of $304.50 million during the quarter, compared to analyst estimates of $308.75 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm's revenue for the quarter was down 19.2% on a year-over-year basis. Research analysts forecast that Comstock Resources will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Comstock Resources

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Comstock Resources by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 11,696,540 shares of the oil and gas producer's stock valued at $121,414,000 after buying an additional 2,438,252 shares during the period. KGH Ltd increased its stake in shares of Comstock Resources by 8.7% in the 2nd quarter. KGH Ltd now owns 12,125,000 shares of the oil and gas producer's stock valued at $125,858,000 after acquiring an additional 975,000 shares during the last quarter. Millennium Management LLC raised its position in shares of Comstock Resources by 775.4% in the 2nd quarter. Millennium Management LLC now owns 875,371 shares of the oil and gas producer's stock valued at $9,086,000 after acquiring an additional 775,371 shares during the period. HITE Hedge Asset Management LLC bought a new position in Comstock Resources during the 2nd quarter worth approximately $6,544,000. Finally, American Century Companies Inc. grew its holdings in Comstock Resources by 19.0% during the second quarter. American Century Companies Inc. now owns 2,270,435 shares of the oil and gas producer's stock valued at $23,567,000 after purchasing an additional 362,043 shares during the period. Institutional investors and hedge funds own 36.13% of the company's stock.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.